Category: Stock Market

At the start of each week, I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Betmakers Technology Group Ltd (ASX: BET) remains the most shorted ASX share even though its short interest easing for a second week in a row to 15.1%. Despite losing a third of their value in 2022, short sellers appear to believe this betting technology company’s shares can keep falling.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest fall to 14.3%. Short sellers don’t appear confident that the travel market recovery will be smooth sailing for Flight Centre.
• Block Inc (ASX: SQ2) has seen its short interest fall to 11.5%. Short sellers will have been disappointed to see this payments company’s shares jump last week amid a rebound in the tech sector on softer interest rate expectations.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has short interest of 11.3%, which is down slightly week on week. Inflationary pressures have been weighing on this pizza chain operator’s performance.
• Perpetual Limited (ASX: PPT) has seen its short interest rise to 10.6%. Short sellers have been increasing their positions after the fund manager was pressured into completing its acquisition of Pendal Group Ltd (ASX: PDL).
• Megaport Ltd (ASX: MP1) has seen its short interest rebound slightly to 10.5%. Short sellers aren’t giving up on this network as a service operator’s shares despite them rising 21% since this time last month.
• Sayona Mining Ltd (ASX: SYA) has 9.9% of its shares held short, which is up week on week. Short sellers may be targeting this lithium developer due to valuation concerns.
• Nanosonics Ltd (ASX: NAN) has short interest of 8.5%, which is down week on week. Short sellers appear to have been closing positions since the release of a reasonably positive sales update. Though, it is worth noting that no commentary was made on its margins, which is understood to be one of the key reasons short sellers are targeting the company.
• Lake Resources N.L. (ASX: LKE) has short interest of 8.4%, which is up slightly week on week. Short sellers continue to have doubts over Lake’s ability to produce battery grade lithium at scale from its Kachi operation.
• Breville Group Ltd (ASX: BRG) has seen its short interest once again slide to 8.2%. Short sellers have been closing positions following the release of the appliance manufacturer’s first quarter update.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

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More reading

• How I’d invest $20k in ASX 200 shares in 2023 to capitalise on the stock market rally
• Brokers name 3 ASX shares to buy today
• 3 best-performing ASX 200 healthcare shares in November
• Why did the Flight Centre share price take a flogging in November?
• Rebound: I’m finding cheap ASX shares to buy before it’s too late!

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group, Block, Megaport, and Nanosonics. The Motley Fool Australia has positions in and has recommended Block and Nanosonics. The Motley Fool Australia has recommended Betmakers Technology Group, Domino’s Pizza Enterprises, Flight Centre Travel Group, and Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX iron ore shares are benefiting from a higher iron ore price. This may be surprising to some investors because the price for the steel-making commodity seemed to be on the way down.

But, the iron ore price can be quite fickle – it can certainly rise very quickly. As reported by the Australian Financial Review, the Singapore iron ore futures rose to US$101 per tonne. This was a sizable gain from the late October low of US$76.45 per tonne.

At the same time, there are a number of changes afoot in China that may indicate COVID-19 restrictions are going to wind down and that, perhaps, COVID-zero may not be the nation’s key aim. This could be a boost for the economy and iron ore demand.

COVID rules change

According to reporting by CNBC, daily cases of COVID in China are “near all-time highs” yet some cities are taking steps to reduce COVID-19 testing requirements and quarantine rules.

Reportedly, COVID-19 testing booths have been removed in Beijing. Meantime, Shenzhen has updated its rules, as other cities have done, to state that commuters don’t need to test negative to travel. Chengdu and Tianjin are among other big cities that have made similar moves.

CNBC also reported that “China is set to further announce a nationwide reduction in testing requirements as well as allowing positive cases and close contacts to isolate at home under certain conditions”, according to Reuters sources.

CNBC also reported that Chinese leader Xi told EU officials the Omicron variant was less deadly and this could mean fewer COVID restrictions.

According to CNN, Vice Premier Sun Chunlan reportedly told state news agency Xinhua:

With the decreasing toxicity of the Omicron variant, the increasing vaccination rate and the accumulating experience of outbreak control and prevention, China’s pandemic containment faces a new stage and mission.

These different elements seem to signal a major shift for China, which could be a boost for the iron ore price and the ASX iron ore shares of BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG).

Over the past month:

• Fortescue shares are up 24%.
• BHP shares are up 19%.
• Rio Tinto shares are up 21%.

Expert view on the iron ore price

The AFR also reported comments by Citi which suggested there could be further optimism for the iron ore price:

Policy tailwinds are likely to remain in favour of the bulls in the short term.

A perceived U-turn in China’s Covid policy and the country’s efforts to shore up the beleaguered property sector drove an iron ore price rally during November.

We expect further improvement in reopening sentiment. However, we maintain our view that the physical fundamentals will remain weak in the near term.

According to Commsec, the Fortescue share price is priced at 10 times FY23’s estimated earnings, the BHP share price is valued at 15 times FY23’s estimated earnings, and the Rio Tinto share price is valued at nine times FY23’s estimated earnings.

While those price/earnings (P/E) ratios aren’t exactly high, I’m not sure how the iron ore price will perform, or for how long it will be affected. I also think it may be better to wait for a lower iron ore price when buying a cyclical business like an ASX iron ore share.

The post The iron ore price just posted its biggest-ever monthly gain. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• ‘Long & bullish’: Expert picks 2 ASX shares to buy as investors flock back to market
• Brokers name 3 ASX shares to buy today
• Why Coronado, IDP, Mayne Pharma, and Rio Tinto shares are dropping today
• 10 ASX dividend shares paying more than 10% yield right now
• Fortescue’s green hydrogen ambitions: Prosperous or preposterous?

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s funny to think that technology stocks were all the rage only just a year ago but are completely out of favour now.

The S&P/ASX All Technology Index (ASX: XTX) had, in fact, risen a phenomenal 155% from the COVID-19 trough in March 2020 to November last year.

But over the past 12 months, the index has lost 28%.

However, with inflation looking to peak and the end of steeply rising interest rises in sight, many experts have tipped tech to make a comeback in 2023.

Still plenty of scepticism about tech

But as the old saying goes, “once bitten, twice shy”.

On Thursday, the broader S&P/ASX 200 Index (ASX: XJO) rallied an impressive 0.96%, but tech shares missed out on the party.

In fact, Shaw and Partners portfolio manager James Gerrish noted that quite a few of them sold off.

“Altium Limited (ASX: ALU) opened close to $40 before sliding lower all day,” he said in his Market Matters newsletter.

“In other words, at this stage investors are far from convinced that the tech sector can make a meaningful dent in the losses endured through 2022.”

But the tide will turn sooner or later

But Gerrish considers Altium a buy right now, as the sentiment for technology will turn soon.

“Market Matters remains long and bullish on Altium,” he said.

“We can see Altium testing well above $40 into Christmas.”

The share price for the ASX 200 electronics design software provider has already risen 7.5% over the past month.

And it’s not the only tech share he’s keen on at the moment.

“We’ve chosen Altium to make our point here but it could easily have been Seek Limited (ASX: SEK) or REA Group Limited (ASX: REA).”

Gerrish had previously tipped both of those stocks to lead the tech resurgence heading into Christmas.

REA has indeed fit the bill, seeing its shares soar 4.8% over the past month. Seek has also done well, edging up 4.73%.

The post 3 ASX 200 tech shares to buy now before the market wakes up: expert appeared first on The Motley Fool Australia.

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More reading

• Why are ASX tech shares having such a cracking run on Thursday?
• Analysts name the ASX tech shares to buy right now
• Experts say these ASX 200 blue chip shares are buys
• Here are the top 10 ASX 200 shares today
• I’d aim for $1 million in retirement buying just 10 ASX 200 shares

Motley Fool contributor Tony Yoo has positions in Seek. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium. The Motley Fool Australia has recommended Rea Group and Seek. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The ASX share market revival over the past few weeks is not only great for our portfolios, but is a psychological relief.

You can stick to a long-term mindset but it is still human nature to feel depressed seeing a sea of red on the stockbroking dashboard.

Gerrish told his Market Matters newsletter that the most recent leg-up has quietened the cynics.

“There have been plenty of non-believers in equities over the last 12 to 18 months but the reality is, when we include dividends, the market is only 0.7% below its all-time high,” he said.

“Where’s the bear market?”

The past week, according to Gerrish, had seen a “risk-on” mindset return “with a bang” after US Federal Reserve chair Jerome Powell made comments interpreted as dovish.

His team noticed three ASX shares in particular that had piqued their interest as investors rediscover their enthusiasm:

Take the extra shares

Copper producer Sandfire Resources Ltd (ASX: SFR) is almost the last man standing after rival OZ Minerals Limited (ASX: OZL) last month agreed to be absorbed into BHP Group Ltd (ASX: BHP).

Sandfire shares are thus up a stunning 47% over the past month.

Gerrish’s team is still “long and bullish” on Sandfire, while noting the current stock purchase offer to existing investors.

“We still have a week to apply for the entitlement to Sandfire shares at $4.30, significantly below where the stock closed yesterday,” he said.

“Hence it’s highly likely that Market Matters will be taking the extra shares.”

Gold, gold, gold for Australia

Gerrish’s team is also keen on the gold market.

For example, the Ramelius Resources Limited (ASX: RMS) share price has rocketed up close to 15% over the past few days.

“If we are correct, both Ramelius and the gold sector have further to rally.”

This ASX 200 share has already rallied an amazing 65% since mid-October to close Friday at 99 cents.

Gerrish reckons there’s more to come, though.

“We feel at least the next 20% looks set to be on the upside,” he said.

“We think Ramelius can now rally towards the $1.13 initial resistance following Jerome Powell’s dovish statement.”

The post ‘Long & bullish’: Expert picks 2 ASX shares to buy as investors flock back to market appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• This ultra-high-yield ASX dividend share is up 18% in a month. Is it too late to buy?
• Here are the top 10 ASX 200 shares today
• Climate and energy: Analyst tips 2 ASX shares perfectly placed for global crises
• BHP’s bargain? Expert thinks its ASX 200 takeover target could be worth 40% more

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re wanting to boost your income with some ASX dividend shares, then you might want to look at the two listed below.

These dividend shares have recently been named as buys by brokers and tipped to provide investors with attractive dividend yields. Here’s what you need to know about these dividend shares:

Accent Group Ltd (ASX: AX1)

This footwear and youth apparel retailer could be a dividend share to buy.

This is thanks to its strong market position and exposure to younger consumers. The latter is well-placed to keep spending in the current environment due to a rise in the minimum wage.

Goldman Sachs expects this to be the case and recently put a buy rating and $2.20 price target on the company’s shares.

As for dividends, Goldman is expecting fully franked dividends of 10.2 cents per share in FY 2023 and 11.4 cents per share in FY 2024. Based on the current Accent share price of $1.77, this will mean yields of 5.75% and 6.45%, respectively.

Telstra Corporation Ltd (ASX: TLS)

Income investors may also want to consider buying this telco giant’s shares.

Thanks to its successful turnaround via the T22 strategy and its ongoing restructure, it has been tipped as a dividend share to buy by analysts at Morgans.

They believe the market is undervaluing some of Telstra’s assets and expect its restructure to unlock value for shareholders. As a result, the broker has put an add rating and $4.60 price target on the company’s shares.

In respect to dividends, the broker is expecting Telstra to continue to pay fully franked 16.5 cents per share dividends in both FY 2023 and FY 2024. Based on the current Telstra share price of $4.00 this equates to yields of 4.1%.

The post Buy Telstra and this ASX dividend share: experts appeared first on The Motley Fool Australia.

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More reading

• Here are 2 of the best ASX dividend shares to buy: Morgans
• Rebound: I’m finding cheap ASX shares to buy before it’s too late!
• Can the Telstra share price finish 2022 with a bang in December?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Boost your retirement income with these ASX dividend shares: analysts

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Friday, the S&P/ASX 200 Index (ASX: XJO) finished the week in a disappointing fashion. The benchmark index tumbled 0.7% to 7,301.5 points.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rebound on Monday despite a mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 19 points or 0.25% higher this morning. On Wall Street, the Dow Jones was up 0.1%, the S&P 500 was flat, and the NASDAQ dropped 0.2%.

Oil prices drop

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price was down 1.5% to US$79.98 a barrel and the Brent crude oil price fell 1.5% to US$85.57 a barrel. At the weekend, OPEC met and decided to maintain previously planned production cuts of 2 million barrels per day.

ASX 200 rebalance

S&P Dow Jones Indices has announced a single change to the S&P/ASX 200 index, effective prior to the open of trading on December 19, as a result of the December quarterly review. That change will see gold miner St Barbara Ltd (ASX: SBM) dumped from the index and engineering company Monadelphous Group Limited (ASX: MND) replace it. In other news, Pilbara Minerals Ltd (ASX: PLS) has been added to the illustrious ASX 50 index.

Metcash results

The Metcash Limited (ASX: MTS) share price will be on watch on Monday when the wholesale distributor releases its half year results. The market will be looking for sales growth in the region of 7.7%, which is in line with what was reported at its investor day event in October.

Gold price edges lower

Gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a soft start to the week after the gold price edged lower on Friday. According to CNBC, the spot gold price was down 0.3% to US$1,809.6 an ounce during the session. The gold price retreated from close to a four-month high following the release of US jobs data.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

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More reading

• What happened with the Woodside share price in November?
• Can the Pilbara Minerals share price regain its lustre in December?
• Here are the top 10 ASX 200 shares today
• Why Bigtincan, Bubs, St Barbara, and Warrego shares are charging higher
• Here are the 3 most heavily traded ASX 200 shares on Friday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Metcash. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Three ASX lithium shares had a tough run in November. However, two of these shares have made gains in the year to date.

Looking at their share price movements during the month, Piedmont Lithium Inc (ASX: PLL) shares fell 13.54%, Leo Lithium Ltd (ASX: LLL) shares dropped 11.29%, while Anson Resources Ltd (ASX: ASN) shares plunged 25.81%.

Let’s take a look at each of these ASX lithium shares in more detail.

Piedmont Lithium

Piedmont is aiming to become a “leading American producer of lithium hydroxide” produced from spodumene concentrate. On 2 November, Piedmont released a corporate presentation to the market.

On 16 November, Piedmont advised Sayona Mining Ltd (ASX: SYA) had entered a strategic acquisition and earn-in agreement with Jourdan Resources Inc (TSXV: JOR) for 48 claims of the Vallee Lithium Project. Piedmont has a 25% stake in the project.

Commenting on this news, Piedmont Lithium CEO and president Keith Phillips said:

The claims of the Vallee Lithium Project represent the potential to extend or expand North American Lithium (NAL_ operations over time. At this time, we remain focused on near-term production of spodumene concentrate as NAL advances toward the restart target of H1 2023.

Piedmont Lithium shares may have fallen in November, but they have gained nearly 12% overall year to date. The company is also listed in the United States under the ticker (NASDAQ: PLL).

Anson Resources

Anson Resources is developing the Paradox Lithium Project in Utah, USA. The company is exploring lithium and NaBr from this project.

Anson announced a major upgrade to its mineral resource estimate for the Paradox project in November. The new upgraded resource is:

• 1,037,900t of Lithium Carbonate Equivalent (LCE) and 5.27Mt of Bromine

Commenting on the news, the company said:

The delivery of the mineral resource upgrade represents another significant achievement in the
development pathway of the Project.

Anson shares have soared 70% in the year to date and a mammoth 92% in the last year.

Leo Lithium

Leo Lithium is developing the Goulamina Lithium Project in Mali, West Africa.

On 15 November, Leo Lithium advised it has signed a port services agreement to export spodumene concentrate produced at the Goulamina Lithium Project.

On 28 November, Leo Lithium advised Ron Chamberlain has been appointed chief financial officer and joint company secretary. Commenting on this news, Leo Lithium managing director Simon Hay said:

Ron’s experience in projects and operations in a global setting including Africa will be a real asset to Leo.

Despite falling in November overall, the company’s shares have soared 17% since market close on 28 November.

The post What were the 3 worst-performing ASX lithium shares in November? appeared first on The Motley Fool Australia.

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More reading

• 2 ASX lithium shares to buy, and 3 to sell: brokers
• Ainsworth Game Tech, BHP, Fisher & Paykel, and Leo Lithium shares are charging higher
• Why did the Sayona Mining share price have a tough run today?
• Ex-Tesla Australia boss faces 15 years’ jail for insider trading ASX lithium shares

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) shares have gone through a lot this year. Volatility has picked up, and plenty of ASX 200 shares are trading at lower prices than they were at the start of the year. But this could be a good time to buy ASX shares, in my opinion.

I believe it makes sense to buy assets at a cheaper price. And I think some ASX shares that have dropped in price heavily could be on track for a rebound.

However, it’s important not to anchor to past share prices. Just because something was previously at a share price of $30 doesn’t mean it will get back there any time soon.

Looking specifically at ASX 200 shares that have been sold down but could rebound nicely in the medium term, I like the look of these:

Pinnacle Investment Management Group Ltd (ASX: PNI)

I’d invest $10,000 into Pinnacle shares. If the (ASX 200) share market does indeed rally in 2023, then I think this financial services company is well-placed to benefit. It’s invested in a number of fund managers, so a rise in share prices would be a natural boost to underlying funds under management (FUM) and profitability, and presumably the Pinnacle share price.

I think the business can continue to attract more high-quality fund managers to its stable by offering its services, with areas like legal, compliance, distribution capabilities and seed capital. I’m excited by its potential to grow with overseas managers.

The Pinnacle share price has dropped 40% in 2022, and it’s priced at 18x FY24’s estimated earnings, according to estimates on CMC Markets. I think this price is reasonable, considering the earnings growth rate in the long term could rebound nicely once asset prices aren’t declining.

Breville Group Ltd (ASX: BRG)

I’d invest $4,000 into Breville shares.

The kitchen appliance maker was one of the beneficiaries during COVID-19 as more people spent time at home. But now, investor sentiment has gone into reverse. The Breville share price has dropped by 37% in 2022 to date.

But, even if demand reduces in 2023, I think the company has long-term potential as it enters new markets, launches new products and makes the occasional acquisition.

I think this ASX 200 share is one of Australia’s global success stories. A return to normal supply chain conditions and improving logistics costs can help Breville’s profit margins.

At this lower price, I think it now represents compelling long-term value. According to CMC Markets, it’s valued at 22x FY24’s estimated earnings.

Goodman Group (ASX: GMG)

I’d invest $6,000 into Goodman shares.

I think that Goodman is one of the best property businesses on the ASX. It owns, develops and manages industrial property estates. In addition, the company indirectly benefits the strong demand for logistics and warehouse real estate.

The Goodman share price has sunk more than 30% in 2022, so I think the value looks much more reasonable now.

In Goodman’s FY23 first quarter update, it said that its portfolio occupancy was 99% with a 12-month rolling like-for-like net income growth of 4%. Plus, it had $13.8 billion of development work in progress across 85 projects, which suggests a lot of future rental income in the works.

The ASX 200 share is still expecting operating earnings per security (EPS) to grow by 11% in FY23, which would be a solid increase, in my opinion.

I think that ongoing demand for well-located properties that can improve productivity for customers can lead to good rental growth.

The post How I’d invest $20k in ASX 200 shares in 2023 to capitalise on the stock market rally appeared first on The Motley Fool Australia.

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More reading

• Buy this cheap ASX 200 share with ‘the best property balance sheet on the market’: fundie
• Growth is back: 3 ASX shares to buy now for a 2023 re-rate
• Here are the top 10 ASX 200 shares today
• 2 high quality blue chip ASX 200 shares named as buys by analysts
• Here are the 10 most shorted ASX shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Woodside Energy Group Ltd (ASX: WDS) share price has been a strong performer over the past 12 months. And in November, the S&P/ASX 200 Index (ASX: XJO) oil and gas stock gained another 3.6%.

The first part of November saw the Woodside share price largely trending higher, while shares dipped over the latter weeks.

Here’s why…

What were ASX 200 energy investors eyeing in November?

The Woodside share price enjoyed some healthy tailwinds from a rebounding oil price in the first part of November.

On the back of what looked to be resurgent demand from China, Brent crude oil leapt from US$95 per barrel on 1 November to US$99 per barrel by 10 November.

The rising energy prices also saw the Woodside mark an eight-year intraday high, with the stock swapping hands for $39.58 per share on 9 November.

Oil prices headed the other way in the latter part of November, dropping to US$85 per barrel by the end of the month. This saw more investors hitting the sell button, pressuring the energy stock.

On 29 November, the Woodside share price dipped again after the company released its FY23 guidance, though shares gained the following day.

In its first full year of production since its petroleum transaction with BHP Group Ltd (ASX: BHP), Woodside forecast production of 180 – 190 million barrels of oil equivalent (MMboe). That was lower than consensus expectations.

And as my Fool colleague James pointed out on the day, “Woodside recently delivered third-quarter production of 51.2 MMboe, which annualises to 204.8 MMboe.”

The company’s production guidance came in well below that annualised quarterly figure.

Woodside share price snapshot

Despite some ups and downs, the Woodside share price has gained an impressive 69% over the past 12 months. That compares to a full-year gain of 1% posted by the ASX 200.

The post What happened with the Woodside share price in November? appeared first on The Motley Fool Australia.

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More reading

• Could our dividends now be too reliant on ASX 200 oil shares?
• Why is the Woodside share price on the slide today?
• 5 things to watch on the ASX 200 on Friday
• Why CogState, Downer, Temple & Webster, and Woodside shares are dropping
• Woodside share price falls as the ASX 200 giant targets 4% annual growth

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Looking for an ASX dividend share or two to buy? Two that analysts at Morgans rate as buys and have on their best ideas list in December are listed below.

Here’s what the broker is saying about them:

Macquarie Group Ltd (ASX: MQG)

This investment bank remains a top pick for Morgans. The broker believes Macquarie is well-placed for the long term thanks partly to structural drivers. It commented:

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.

Morgans is expecting the investment bank to pay partially franked dividends of 705 cents per share in FY 2023 and 736 cents per share in FY 2024. Based on the current Macquarie share price of $180.24, this implies yields of 3.9% and 4.1%, respectively.

The broker also sees plenty of upside for its shares with its add rating and $214.30 price target.

Telstra Corporation Ltd (ASX: TLS)

Morgans also has this telco giant on its best ideas list.

This is due partly to its successful turnaround. The broker also believes that Telstra’s recent restructure could unlock value for shareholders. It explained:

After a major turnaround, TLS has emerged in good shape with strong earnings momentum and a strong balance sheet. In late CY22 shareholders vote[d] on Telstra’s legal restructure, which opens the door for value to be released. TLS currently trades on ~7x EV/EBITDA. However some of TLS’s high quality long life assets like InfraCo are worth substantially more, in our view. We don’t think this is in the price so see it as value generating for TLS shareholders. This, free option, combined with likely reputational damage to its closest peer, following a major cybersecurity incident, means TLS looks well placed for the year ahead.

As for dividends, it continues to forecast fully franked 16.5 cents per share dividends in FY 2023 and FY 2024. Based on the current Telstra share price of $4.00, this implies yields of 4.1%.

Morgans has an add rating and $4.60 price target on Telstra’s shares.

The post Here are 2 of the best ASX dividend shares to buy: Morgans appeared first on The Motley Fool Australia.

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More reading

• Can the Telstra share price finish 2022 with a bang in December?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why did Telstra have a mediocre performance in November?
• Positive view on Macquarie shares ‘would seem obvious’: fundie
• ‘Back a winner’: Expert names his 3 best ASX shares for 2023

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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